You don't have to be a value investor to appreciate a good deal. If you can find a stock with solid growth prospects at a great price, you can get the best of both worlds and likely set the stage for a portfolio-defining investment.

Two stocks I think fit this description are Alphabet (NASDAQ: GOOGL) and MercadoLibre (NASDAQ: MELI). Read on to discover why these two have substantial upside yet are cheaply valued.

Alphabet is the parent company of Google, YouTube, and the Android operating system. Despite having a broad portfolio of brands, Alphabet's revenue depends on one thing: Advertising. In the fourth quarter, 78% of Alphabet's revenue came from advertising sources.

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Source Fool.com